Greenleaf Trust Reduces Stake in American Electric Power Co. (AEP)
Greenleaf Trust decreased its stake in American Electric Power Co. (NYSE:AEP) by 11.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,668 shares of the company’s stock after selling 12,055 shares during the period. Greenleaf Trust’s holdings in American Electric Power were worth $6,565,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can acquired a new position in American Electric Power during the second quarter worth $261,970,000. Panagora Asset Management Inc. raised its position in American Electric Power by 3.6% in the first quarter. Panagora Asset Management Inc. now owns 782,385 shares of the company’s stock worth $51,950,000 after buying an additional 27,294 shares during the last quarter. CIBC World Markets Inc. raised its position in American Electric Power by 60.1% in the second quarter. CIBC World Markets Inc. now owns 12,987 shares of the company’s stock worth $910,000 after buying an additional 4,876 shares during the last quarter. PGGM Investments raised its position in American Electric Power by 64.0% in the second quarter. PGGM Investments now owns 1,210,748 shares of the company’s stock worth $84,861,000 after buying an additional 472,448 shares during the last quarter. Finally, First Quadrant L P CA raised its position in American Electric Power by 100.2% in the second quarter. First Quadrant L P CA now owns 80,500 shares of the company’s stock worth $5,642,000 after buying an additional 40,300 shares during the last quarter. 68.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of American Electric Power Co. (NYSE:AEP) traded up 0.13% during mid-day trading on Wednesday, hitting $62.26. The company had a trading volume of 2,626,429 shares. American Electric Power Co. has a one year low of $53.30 and a one year high of $71.32. The company’s 50-day moving average is $65.28 and its 200 day moving average is $66.24. The company has a market capitalization of $30.61 billion, a PE ratio of 15.37 and a beta of 0.23.
American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.05. The business had revenue of $3.90 billion for the quarter, compared to analyst estimates of $4.01 billion. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. American Electric Power’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. On average, equities research analysts forecast that American Electric Power Co. will post $3.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.60%. American Electric Power’s dividend payout ratio is currently 55.17%.
A number of research analysts recently weighed in on AEP shares. KeyCorp set a $72.50 target price on American Electric Power and gave the stock a “buy” rating in a report on Monday, September 12th. Zacks Investment Research raised American Electric Power from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Tuesday, September 13th. Goldman Sachs Group Inc. raised American Electric Power from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $71.00 to $73.00 in a report on Tuesday, July 26th. Jefferies Group boosted their target price on American Electric Power from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, June 17th. Finally, SunTrust Banks Inc. upped their price objective on American Electric Power from $74.00 to $76.00 and gave the company a “buy” rating in a report on Monday, September 26th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $67.39.
American Electric Power Company Profile
American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.
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